The owner would just leave the gate open. It wasn't a secure facility.

There was no monitoring, no online pay.

He was asking everybody to put a check in a bell box every month.

So we implemented auto pay, security systems, gate controllers,

and we emphasize a lot of this for the tenants.

And we're able to explain to them, hey, yes, your rates are going up,

but you're also getting a lot more value a lot

more accessibility a lot more convenience I think it was within about a year and a

half we already started the process of engaging banks and when the appraisal came

in it was nearly three times the original purchase price and we were able to

pull 150% of our cash out and still leave a lot of equity in the property.

All right, guys, I just wrapped up an awesome self-sourge income podcast with two guests, Tony McNickle and Dennis FAMM.

So Tony and Dennis joined our self-sourge income community a few years ago,

and they quickly came in, partnered together and bought a deal within a few months. In today's

podcast, what we talk about is how they've since refinanced that property. They pulled all of

their initial capital back out of the deal and they still own it. So they own that property

with none of their own money in it.

And they've now since bought another property that they're going and doing that same exact process. So in this episode today, we talk a bit about how to partner with people. They both met in our group at an event and decided to partner together. So they talked about what that looks like. They talked about buying their first deal. They talked about the power of a refinance and why you shouldn't just look at a, you know, a cash on cash return because you want to be able to see what that exit looks like for you. And then they talk about scale and what they're trying to do today. We get really in the weeds on operations. We talk about some of the techniques that they've learned for sales

calls to get customers in so that way they can increase their revenue. They talk about talking

to their existing customer base of how they've improved the value of their facilities,

so therefore they're increasing rates to ultimately increase their net operating income.

And we talk a lot of too about the things that

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